Indexes Near Session Lows As Tech Stocks Are Routed

The Nasdaq, which has a much larger weighting in tech stocks than other major indexes, tumbled 1.7%. Software, Internet, biotech and other techs were in the bottom of the day's industry performance list.

The S&P 500 and the Dow Jones industrial average were down 0.9%. All indexes were trading near session lows with less than 90 minutes of trading left.

The Nasdaq and S&P 500 were poised to close with a loss for the week as the gains from earlier in the week quickly evaporated.

Volume was tracking lower across the board, which ameliorated the impact of the day's selling to some degree.

In a symptom of the tech sector's struggles, Synaptics (SYNA) reversed lower. The touchpad-maker was trading higher after its quarterly results topped views. But the stock erased gains and was 1% lower in late trading as volume ran about six times above its average.

Amazon.com (AMZN) hit a six-month low in heavy trading. The online retailer gapped down and was off 9% after the company's first-quarter results included a weak outlook.

But Mylan (MYL) jumped 3% as it forms the right side of a base. Mylan raised its offer for Swedish drugmaker Meda AB to about 43.8 billion Swedish kronor, or $6.7 billion, Bloomberg reported, citing sources.

Old Dominion Freight Line (ODFL) added 1% as it followed through on Thursday's breakout that followed the trucking company's earnings report.

A disappointing earnings report drove shares of Synaptics (NASDAQ:SYNA) to fall to a seven-month low Friday, though the stock rallied later in the session. The Apple (NASDAQ:AAPL) touchscreen supplier late Thursday reported earnings for its fiscal Q4 ended June 30 that missed Wall Street ...

New issues can be tricky to buy, given their oft-volatile trading action in the first few weeks, months or more from their debut. Add to that the unpredictability of earnings season, and it's even tougher to guess how they'll trade. Case in point: Tableau Software (NYSE:DATA) plummeted Wednesday ...

Facebook reported better-than-expected earnings late Wednesday, but still-soaring expenses and guidance for continued slowing growth pushed the stock lower in after-hours trading. Revenue rose 39% to $4.04 billion, edging past the consensus estimate of $3.99 billion. But it was the fifth straight ...

07/29/2015 06:44 PM ET

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